Consumers’ Willingness to Pay for Eco-Certified Wood Products
AbstractWe use Kriström’s simple spike model to assess the factors influencing consumers’ willingness to pay a premium for a variety of certified wood products. A survey of over 1600 Pennsylvania and Tennessee residents found that approximately 35% were willing to pay some positive “premium” for environmentally certified wood products. For three types of wood products (a $28.80 shelf, a $199 chair, and a $799 table) we find the estimated market premiums to be $3.74, $15.94, and $45.07, respectively.
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Bibliographic InfoPaper provided by Utah State University, Department of Economics in its series Working Papers with number 2004-08.
Length: 22 pages
Date of creation: Mar 2004
Date of revision:
eco-labeling; eco-certification; spike models; price premium;
Other versions of this item:
- Jensen, Kimberly L. & Jakus, Paul M. & English, Burton C. & Menard, R. Jamey, 2004. "Consumers' Willingness to Pay for Eco-Certified Wood Products," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 36(03), December.
- Jensen, Kimberly L. & Jakus, Paul M., 2003. "Consumers' Willingness To Pay For Eco-Certified Wood Products," 2003 Annual meeting, July 27-30, Montreal, Canada 22159, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
- Kimberly Jensen & Paul Jakus, 2003. "Consumers’ Willingness to Pay for Eco-Certified Wood Products," Working Papers 2003-03, Utah State University, Department of Economics.
- Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness
- Q23 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation - - - Forestry
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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- Aguilar, Francisco X. & Vlosky, Richard P., 2007. "Consumer willingness to pay price premiums for environmentally certified wood products in the U.S," Forest Policy and Economics, Elsevier, vol. 9(8), pages 1100-1112, May.
- Xiaogu Li & Christopher Clark & Kimberly Jensen & Steven Yen, 2014. "Will consumers follow climate leaders? The effect of manufacturer participation in a voluntary environmental program on consumer preferences," Environmental Economics and Policy Studies, Society for Environmental Economics and Policy Studies - SEEPS, vol. 16(1), pages 69-87, January.
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